Bitcoin slips below $39K as Fed sends gold to 6-week lows
It's been a bad 24 hours for the precious metal, which shed $100 per ounce thanks to the Fed's outlook. Bitcoin (BTC) edged closer to $38,000 support on June 17 as comments from the United States Federal Reserve sparked a mass sell-off for gold.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin escapes gold's fateData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it bounced at $38,400 during Thursday, failing to regain $39,000 in what could shape up to be its anticipated "leg down."Wednesday's Fed meeting and subsequent comments from Chair Jerome Powell....
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The $1.19 trillion crypto economy is now lower in value than the lows recorded in July 2021. During the last week, digital currencies like bitcoin, ethereum, caradano, and xrp, have shed significant value against the U.S. dollar, as the top cryptos have lost 50% to more than 80% from their all-time price highs. How Low Can the Crypto Economy Go? It hasn’t been a great week for crypto assets, as the top ten digital currencies are down between 4% to 15% during the last seven days. Bitcoin (BTC) has lost 4.6% in value this week, while ethereum (ETH) has dropped by more than 14%. BNB is....
Gold disappoints on practically every timeframe while heading back toward all-time lows in BTC terms. Bitcoin (BTC) proponents continue to poke fun at gold bugs as the precious metal’s 10-year returns flip negative.As of Tuesday, fresh data shows tha XAU/USD traded 3.7% lower than it did on the same day in 2011.Gold fails to impress — On any timeframeXAU/USD 1-month candle chart. Source: TradingViewIt’s been a bad week for gold and its investors — a sharp fall on Monday has consolidated losses that have characterized much of 2021.Starting the year at $1,941, XAU/USD was down to $1,729 at....
Gold outperforms "digital gold" in the wake of geopolitical strife, analysts note, with XAU/USD passing $1,900. Bitcoin (BTC) fell to fresh lows on Feb. 22 as the aftermath of Russia's expected incursion into Ukraine triggered more market woes.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewGold comes to the rescue as Bitcoin waversData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $36,400 on Bitstamp overnight Tuesday, its lowest since Feb. 3.Volatility had been high as Russian president Vladimir Putin delivered a speech lasting almost an hour on the....
Gold sinks to yearly lows against Bitcoin but Peter Schiff remains convinced that the former's price gains are ill-gotten. Bitcoin (BTC) hit seven ounces of gold for the first time in over a year this week as the precious metal comes off all-time highs.Data from CoinGecko showed BTC/XAU returning to the pivotal 7 ounce mark on Oct. 25, continuing to edge up to press-time levels of 7.02 ounces.Gold hits one-year lows in BTCDespite Bitcoin losing ground after challenging $14,000, the gains against gold remained on Thursday, as the traditional safe haven felt the pressure of Coronavirus....
Gold's prospects seem to dim as Bitcoin's glitter According to multiple experts, one possible reason for Bitcoin’s remarkable recent price rise are massive investor outflows from another popular inflation hedge: gold. Spot gold swooned over the past week, falling 4.62% to $1,857. The asset previously had been surging in unison with Bitcoin, which is up over 40% from $28,000 lows last week.In a Tweet on Friday, Charlie Morris, founder and CIO at ByteTree Asset Management, said that the pullback in gold might be attributable to investors moving to Bitcoin:With bond yields up and inflation....